Although many companies have not yet come to terms with how to address AI upskilling and reskilling, it’s dawning on them that the knowledge that needs to be imparted can only partially be handled in traditional ways.
According to Boston Consulting Group, the average half-life of skills is under five years, and in some tech fields it’s as short as two and a half years. Skills will overtake degrees as the key signposts on resumés leading to employment. And the focus of upskilling and reskilling should be on genAI skills needed by your company, not generic AI training. Some even foresee a new skills-based economy, where skills become equivalent to currency.
A few forward-thinking companies such as Amazon, Ericsson, and Vodaphone are operating internal AI upskilling programs, but a lot more needs to be done. By and large, companies aren’t yet meeting the needs of workers, who would very much like AI upskilling. Worldwide, almost 80% say their AI training is insufficient, according to an OliverWyman Forum report.
